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Too Many Promises, Not Enough Money for Public Employee Pensions
Borderfire Report
May 14, 2008
Excerpt: Let me use my home state, New Jersey, as an example, but I could just as well cite figures for West Virginia, Illinois, and others that are just flat out of money because they mortgaged the future to vast public pension plans. These states are essentially insolvent and others are not far behind.
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